Naya Pakistan Apartments
Naya Pakistan Apartments: Pakistan is currently facing a total housing delay of 11-12 million housing units. Most urban development in urban areas is in low- and middle-income populations. On the supply side, the building development industry has been active in supplying units to the middle and upper-middle segments of the population. The population at the bottom of the pyramid (BoP), estimated at 20% of the population, lives largely in illegal habitats, family settlements, and slums (Katchi Abadis).
Naya Pakistan apartments description:
The recovery of 56 channels of land for the housing project in the Mauve area, sector G-13 Islamabad, was carried out on 17 April 2019 by the Honorable Prime Minister of Pakistan. The project aims to provide housing for federal government employees. It consists of three towers, each with three basements plus twenty (G + 21) floors. The total number of apartments is 1467, of which 714 Num at 1300 Sft and 753 Num at 1100 ft. Basement floors are reserved for parking, while the ground floor is reserved for service.
he contractor has provided timelines for the completion of the foundation for all towers and a tower substructure by the end of this year. Then the work continues towards the superstructure.The ADL City Authority has launched Naya Pakistan Apartments. There will be 35,000 apartments in ADL’s city. The Lahore Development Authority recently announced the ADL city apartments that are under Prime Minister Naya Pakistan Housing Scheme project. Each apartment is 650 m². Applicants can sign up for this from March 24, 2021, to April 18, 2021.
LATEST UPDATES AT LDA CITY NAYA PAKISTAN APARTMENTS
The Lahore Development Authority (LDA) has signed an agreement with the Bank of Punjab (BoP) of PKR 10 billion for the construction of 4,000 flats. During an official ceremony in Lahore under Prime Minister Usman Buzdar, ADL DG Ahmed Aziz Tarar and BoP President Zafar Masood signed an agreement to build 4,000 apartments for ADL City Naya Pakistan Apartments. This project covers an area of 800 channels.
The agreement will now be translated to ADL, which is responsible for the construction and allocation of the apartments, while BoP provides the resources for the project. ADL will comply with all procedural requirements such as allocating apartments through reconciliation and maintenance of building infrastructure. In the meantime, BoP will receive applications, issue letters of convenience to designated recipients, and provide financial loans to selected applicants under Islamic mortgage financing. The project amount will be separate, which means that the government will ensure that this amount is not spent on other projects and will be used in full for the construction of the first installment of 4,000 apartments in this project.
COMPLETED RACE FOR APARTMENTS IN LDA CITY NAYA PAKISTAN
Last week, the LDA completed the first phase of a tender for the construction of 4,000 apartments as part of the LDA City NPA project. The Punjab government has also approved the procedure for allocating the apartments and the mortgage financing agreement with BoP. Price information was also discussed and published.
Technical member of the ADL’s governing body, Amir Riaz Qureshi, oversaw the opening of bids along with Chief Engineer Abdul Razzaq, CFO Muhammad Akhtar, and Audit Director Javed Akhtar. Initially, six contracting companies had submitted their bids for the construction of a further 256 flats as part of Phase 1 package four. In the first phase, in the current month, work begins on the construction of 4,000 apartments.
Who can apply?
Persons employed by LDA, WASA, and TEPA.
People with less than 50,000 salaries.
Who can apply?
People employed by LDA, WASA & TEPA.
People who have less than 50,000 salaries.
How we can apply
The application form will be available on the Punjabs Bank website from March 24, 2021, to April 8, 2021. After completing the online application form, the applicant must submit 5000 process fees to designated banks.
Cost of apartment
After receiving the applications for the said duration, ie. From March 24, 2021, to April 18, 2021, the LDA will organize voting using the Punjab Information Technology Table.
Who can receive a grant?
An applicant whose name will be on the ballot can apply for a grant for this. They must register an application with the Naya Pakistan Housing & Development Authority. Applicants who succeed in getting a grant only have to pay a 10% payout. In addition, they also have 3 Lac subsidies in the total amount. And the leftovers have to pay a payout of 21%.
People will have to pay the remaining amount in installments after getting their apartment in possession. The installment plan will be straightforward and feasible. So people can deliver the installments quickly.